Cycle & Carriage rises 10% on ‘best ever’ Mercedes sales in May

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KUALA LUMPUR (June 4): Cycle & Carriage Bintang Bhd rose as much as 10% after reporting a 110% jump in Mercedes-Benz vehicle sales in May from a year earlier.

Yesterday, Cycle & Carriage's (fundamental: 1.7; valuation: 1.1) unit Mercedes-Benz Malaysia Sdn Bhd said the latter delivered 1,143 vehicles to buyers. Mercedes-Benz said May was the "strongest sales month in the company’s history".

Today, Cycle & Carriage shares rose as much as 22 sen to RM2.50. At 10.13am, Cycle & Carriage pared gains at RM2.48,  making it the second-largest gainer on Bursa Malaysia.

In a statement yesterday, Mercedes-Benz said the 1,143 units delivered in May compared with 544 units registered a year earlier.

Mercedes-Benz president and chief executive officer Roland Folger said the company would continue to produce quality luxury cars while focusing on exceeding customer expectations.

“Mercedes-Benz Malaysia is on the road to success. We have had an exceptional start to 2015 with sound performance in all type classes, and the figures recorded are a direct result of our dynamic market strategy.

As we further strengthen our leadership position in the luxury segment, our number one priority remains our customers’ satisfaction,” Folger said.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)